Yakili | Lowersixth Commercial Acc Cost Accounting

Course / Course Details

Lowersixth Commercial Acc Cost Accounting

By - Michael Rolex
0 students
166 Hours 40 Min
(0)

Course Requirements

The course for Cameroon Lower Sixth Commercial Cost Accounting on the Yakili app must focus on the principles, methods, and techniques used to ascertain, control, and analyze costs. This discipline is vital for managerial decision-making and differs fundamentally from Financial Accounting, which is externally focused.

The syllabus must cover the foundational elements of cost accumulation and the basic methods of cost analysis and control.

Core Modules for Lower Sixth Cost Accounting

Module	Key Topics (Examples)	Managerial Focus
1. Introduction to Cost Accounting	Definition, objectives, and importance. Differences between Cost, Financial, and Management Accounting. Basic terminology: Cost Centre, Cost Unit, Cost Object.	Understanding the role of cost information for internal planning and control.
2. Cost Classification & Behavior	Elements of Cost (Material, Labour, Expenses). Classification by function (Production, Administration, Selling). Classification by Behaviour (Fixed, Variable, Semi-variable).	Analyzing how costs respond to changes in production volume.
3. Accounting for Materials	Stock control techniques (EOQ, safety stock - basic concepts). Material Pricing Methods (FIFO and Weighted Average Cost (WAC)). Treatment of material losses (scrap, wastage).	Valuing inventory and controlling material costs.
4. Accounting for Labour	Time-keeping and time-booking. Calculation of wages, overtime, and idle time. Basic remuneration systems (time rate vs. piece rate). Labour Turnover.	Measuring and managing the cost of the workforce.
5. Overheads	Classification of Overheads (Factory, Administrative, Selling & Distribution). Allocation, Apportionment, and Absorption of overheads (use of Overhead Absorption Rate).	Ensuring all indirect costs are attributed to products.
6. Costing Methods	Job Costing: Features, calculation using job cost sheets. Unit/Output Costing: Calculation of Cost per Unit and preparation of a basic Cost Sheet or Statement of Cost.	Determining the total cost of a specific order or a batch of uniform products.

The course needs to be heavily practice-oriented, emphasizing calculations and practical reporting.

Cost Sheet Builder: Integrate an interactive, step-by-step cost sheet builder where students input the cost elements (Prime Cost, Factory Overhead, etc.) and the system generates the final cost and profit/loss statement.
Calculation Drills: Provide extensive, multi-step calculation drills for Overhead Absorption Rates, Material Pricing (FIFO/WAC), and Cost per Unit to build computational speed and accuracy for the GCE.
Diagrams & Flowcharts: Use diagrams to illustrate the flow of costs through the cost accounts (e.g., from raw materials to finished goods).
Comparative Tools: Include visual tools to clearly contrast the financial accounting treatment (external reporting) vs. the cost accounting treatment (internal control) of key items like fixed costs or inventory valuation.
Real-World Scenarios: Use local industry examples (e.g., a local bakery, a small construction firm) for costing problems to make the concepts relevant.

Course Description

This Yakili online course, aligned with the Cameroon GCE Advanced Level Commercial stream Accounting syllabus, provides students with a crucial introduction to Cost Accounting, focusing on the principles and techniques used for internal decision-making, planning, and cost control within a business. The curriculum clearly differentiates Cost Accounting from Financial Accounting and systematically covers the Elements of Cost (Material, Labour, Overheads). Key areas include classifying costs by behavior (Fixed, Variable), applying different Material Pricing Methods (FIFO and Weighted Average Cost), and mastering the three stages of Overhead Accounting (Allocation, Apportionment, and Absorption). The course culminates in the application of costing methods like Job Costing and Unit Costing, enabling students to prepare a detailed Cost Sheet or Statement of Cost for a product or service. Delivered through practical, calculation-heavy tutorials and real-world commercial scenarios, this course equips students with the essential analytical tools needed to manage business costs effectively and succeed in the GCE examination.

Course Outcomes

Upon completion, the student will be able to:

Cost Classification: $\checkmark$ Distinguish and classify costs based on their nature, function, and behavior (Fixed, Variable, Direct, Indirect), demonstrating an understanding of the relationship between cost and volume.
Material Costing: $\checkmark$ Calculate the value of material issues using the FIFO and Weighted Average Cost methods and account for material losses.
Overhead Allocation: $\checkmark$ Allocate, apportion, and absorb overheads into production costs using appropriate bases and the calculation of a Predetermined Overhead Absorption Rate.
Job and Unit Costing: $\checkmark$ Prepare a Job Cost Sheet and a Statement of Cost/Cost Sheet for single output, accurately determining the Cost of Production and Cost of Sales.
Cost Reporting: $\checkmark$ Differentiate between the purposes and characteristics of Cost Accounting and Financial Accounting reports and explain the role of cost information in basic managerial planning.